CP091 (Revolving Loan Fund Committee RFLC)CITY OF JANESVILLE Policy No. 91
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CITY COUNCIL POLICY STATEMENT
Date Issued 9/9/2014
Revised 10/09/2017
Revised 01/09/2023
General Subject: Revolving Loan Review Committee Effective Date 01/10/23
Cancellation Date
Specific Subject:
Committee Functions and Activities Supersedes No.
PURPOSE
To establish, define the membership of, and record the role of the Revolving Loan Review
Committee.
FUNCTION
The Revolving Loan Review Committee’s purpose shall be to review, recommend, and
assist in the administration of overall policies and procedures of the City’s Revolving Loan
Fund (RLF) Program(s) and to review all RLF Loan applications and recommendations of
the Program Administrator regarding approval, conditional approval, and/or disapproval.
The Revolving Loan Review Committee shall retain the right to approve or deny any loan
application based on the application record. The committee will resolve all complaints or
disputes related to the Program following consideration of input from the applicant,
members of the Committee, and City staff, and make recommendations for resolutions of
any complaints or disputes to the City Council as necessary.
MEMBERSHIP - APPOINTMENT
The Revolving Loan Review Committee (RLRC) shall be, at minimum, a seven-member
committee consisting of the following members:
• City’s Economic Development Office Director – or their designee
• City of Janesville Finance Director – or their designee
• At minimum one (1) representative associated with the Downtown Janesville
Business Improvement District (BID)
• Up to one (1) representative from each local financial institution that has
contributed funds into the Revolving Loan Fund
Committee appointees shall: (1) be residents or employees within the City of Janesville; (2)
represent the City as a whole; (3) possess sufficient knowledge and experience in the
review and analysis of financial information to adequately serve the committee and the City
as a whole; and (4) possess an understanding of the importance of fiscal stability for the
City. The Committee shall select its Chair.